On March 9, 2020 Sprint Bioscience AB (publ) (Sprint) reported that it has received an update from the company’s partner Petra Pharma regarding the development of the PIP4K2 project (Press release, Sprint Bioscience, MAR 9, 2020, View Source [SID1234555296]). The ongoing pre-clinical program before the start of clinical trials continues to show good efficacy and safety, and according to Petra Pharma, the plan is to start a phase 1 trial in the second half of 2020.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Sprint Bioscience and Petra Pharma signed a license agreement for Sprint Biosciences PIP4K2 inhibitors in 2016. The goal is to develop a new treatment for hematological diseases such as acute myeloid leukemia (AML).
Petra Pharma finances and is responsible for the continued development of the PIP4K2 project. Sprint Bioscience has now received a new update from Petra Pharma about the project’s development and according to this, the plan is to start clinical trials in the second half of 2020. Petra Pharma also announces that studies on primary samples from AML patients have shown very good effect at the same time. preliminary toxicological studies have shown good tolerability.
Petra Pharma has also successfully started scaling up the manufacture of the substance prior to the start of clinical trials.
"PIP4K2 is our most advanced project and thus one of our most valuable. The successes Petra Pharma reported further strengthens our belief in the project and we now look forward to the important transition from preclinical to clinical phase later this year. I note that our business model, where we generate and outlicenses innovative medicines programs for international pharmaceutical companies, continues to bear fruit. "Says Jessica Martinsson, CEO of Sprint Bioscience.
Under the licensing agreement, Sprint Bioscience can receive up to approximately USD 240 million in interim compensation, of which USD 5 million has been paid to date. In addition, Sprint Bioscience is entitled to royalty on the global turnover of any products generated within the collaboration. The next interim payment will be made at the start of the first clinical study (phase 1) within the project.